BTC Bank in Bethany, Mo., has agreed to buy Merchants and Farmers Bank of Salisbury in Missouri.
The $934 million-asset BTC said in a press release that it expects to gain approvals to buy the $118 million-asset Merchants and Farmers over the next two months.
Integration is expected to take place in October. The price wasn’t disclosed.
Merchants and Farmers “strongly aligns with BTC Bank’s culture, values and dedication to its customers and communities,” Doug Fish, BTC’s president and CEO, said in the release.
“The blending of talent and expertise from both banks along with increased product and service capabilities will be a tremendous benefit to all stakeholders involved,” Fish added.
Once completed, BTC will have 22 branches in Missouri and Iowa.
BTC recently bought Home Exchange Bank.